Page:Ruffhead - The Statutes at Large - vol 5.djvu/160

 120 G. 8. Anno tertio Georgii Regis. A. D. 1 716. 7 Ann. c. 3. 8 Ann. c. 1. 12 Ann. flat. X. 11. $ Ann. c. 7. 7 Ann.c. 7 & 8, 8 Ann. c. 1. 31 Ann. flat. I, «, 11. fc&. 15. i^Geo. 1 C 1-2. flat, 2 fand five hundred and one Pounds thirteen Shillings and five Pence per Annum fhould ceafe and determine, and then alfo the faid Duties on Houfes Ihould be underfiood to be redeemed by Parliament, and fhould not be iffued, paid or applied to any Ufe or Purpofe whatfoever, but by Authority of Parliament. And whereas in purfuance of the faid Act of the feventh Year of her faid late Majefty's Reign, feveral other Bills, commonly called Exchequer-bills, were made forth, amounting to two millions five hundred thou- fand Pounds principal Money ; and in purfuance of another Aft of the fame Year, and of certain Clau- fes contained in an Aft of the eighth Year of her Reign, there were iffued feveral fuch Bills, amounting to four hundred thoufand Pounds more in principal Money ; and purfuant to an Aft made in the twelfth Year of her faid late Majefty's Reign, there were iffued fuch Bills, amounting to twelve hundred thou- fand Pounds more in principal Money : And it was provided by the faid Afts refpeftively, That all the Bills thereby made forth fhould bear an Intereft after the Rate of two Pence per Centum per Diem (faving fuch Intereft as therein is mentioned •,) and that the faid Governor and Company of the Bank of England fhould have an Allowance after the Rate of three Pounds per Centum per Annum for circulating the faid Bills, abating the faid Allowance proportionally as the Bills fhould be cancelled : And by an Aft made in the ninth Year of her faid late Majefty's Reign, for better enabling the faid Governor and Company of the Bank of England to exchange for ready Money upon Demand any of the Bills made forth upon the faid feveral Afts of the feventh and eighth Years of her Majefty's Reign, it was enafted, That the full Sum of forty-five thoufand Pounds per Annum fhould be paid to and for the Ufe of the faid Governor and Company of the Bank of England, by the Ways and Means therein fpecified, for and during fuch Time only, as in that Aft was limited : And by the faid Aft made in the twelfth Year of her Majefty's Reign, for better enabling the faid Governor and Company of the Bank of England to circulate all Ex- chequer-bills made forth and to be made forth on that and the faid former Afts, by exchanging the fame, from Time to Time, for ready Money upon Demand, it was enafted, That the intire yearly Sum of eight thoufand Pounds (over and above the faid yearly Sum of forty-five thoufand Pounds) fhould be paid to and for the Ufe of the faid Governor and Company of the Bank of England by quarterly Payments, until fuch Time as no more than nineteen hundred thoufand Pounds of all the Bills iffued and to be iffued in purfuance of that and the faid former Afts (taken all together) fhould be ftanding out uncancelled in the whole.: And for making good as well the faid Intereft of two Pence per Centum per Diem, and the faid Allowance after the Rate of three Pounds per Centum per Annum, as alfo the faid yearly Sum of eight thoufand Pounds, until the Subfidies, Duties, Surplus Monies and Arrears compofing the general Fund and Security by the faid former Afts, or fome of them, intended to be eftablifhed, or fo many of them as fhould be fufficient for thofe Purpofes fhould have taken Effeft, it was by the faid feveral Afts of the feventh, eighth and twelfth Years of her late Majefty's Reign, or fome of th?m, enafted. That the Lord Treafurer, or three or more of the Commiffiohers of the Treafury for the Time being, fhould make out or caufe to be made out other Exchequer-bills for fo much as fhould be computed to be due at the refpeftive Quarter-days therein mentioned (over and above what fhould have been applied out of the . Subfidies, Duties and other Sums of Money aforefaid) for fuch Intereft and for fuch Allowance of three Pounds per Centum per Annum, and for the faid yearly Sum of eight thoufand Pounds refpeftively ; and that fuch quarterly Bills fhould bear the like Intereft of two Pence per Centum per Diem ; and that the faid Governor and Company of the Bank of England fhould have the like Allowance of three Pounds per Centum per Annum for Circulation thereof. And whereas in an Aft of Parliament made and pafled in the firft Year of your Majefty's Reign, reciting, That the Exchequer-bills ftanding out and remaining unfa- tisfied and undifcharged upon the eleventh Day of July one thoufand (even hundred and fifteen did amount to the Sum of four millions five hundred fixty-one thoufand twenty and five Pounds, or there- abouts ; it was thereby enafted and declared, That feveral Subfidies, Duties, Revenues, additional Re- venues, Incomes, furplus Monies, Arrears, overplus Monies and other Monies therein particularly de- fcribed or mentioned, were and fhou'.d be one general and aggregate Fund and Security for fatisfying and paying all Moni:s which then were and from Time to Time ihould be incurred and grown due or pay- able for Intereft, at the Rate of two Pence per Centum per Diem, and for the faid Allowance of three Pounds per Centum per Annum for all the Exchequer-bills above-mentioned or fuch of them as fhould from Time to Time be uncancelled or undifcharged; and all the Monies which were or fhould be grown due from Time to Time upon the Giid Sums of forty-five thoufand Pounds per Annum and eight thoufand Pounds per Annum, for fo long Time as thofe yearly Sums were to continue or be payable ; and for fup- plyir.g to your Majefty, during your Life, the yearly Sum of one hundred and twenty thoufand Pounds, for the Service of your Majefty's Houfhold and Family, and other your neceffary Expences and Occa- fions ; and alfo for fupplying the further yearly Sum of fifty-four thoufand fix hundred Pounds for ever, to raife Money for publick Services, and for making good fuch Deficiencies as are therein expreffed ; and likewife for and towards furnifhing the yearly Sum of two hundred and feyenty thoufand nine hundred ninety-nine Pounds and feven Shillings, for paying off and cancelling the faid Bills ; all which was to be done in fuch Order, Manner and Form, and with fuch Preferences, as in the fame Aft are prefenbed : And it was thereby provided and enafted, That from and after the complete paying off and difchargmg all the Principal and Intereft which fhould be due upon all the faid Exchequer-bills ifiued as aforeiaid, and cancelling the fame, and full Payment made of all Arrearages (if any fhould be then due) as well for or upon the faid Allowance, after the Rate of three Pounds per Centum per Annum, and for or upon the faid yearly Sums of forty-five thoufand Pounds, eight thoufand Pounds, one hundred and twenty thoufand Pounds, and fifty-four thoufand fix hundred Pounds, and every of them, as alfo of fuch Defi- ' ciency